Norwood Young America, Carver County, Minnesota Property Taxes

Name: Property Tax Bills Across Norwood Young America, Carver County, Minnesota
Creator: Ownwell
License: https://creativecommons.org/licenses/by-nc/4.0/

Median Norwood Young America, MN effective property tax rate: 1.26%, significantly higher than the national median of 1.02%, but lower than the Minnesota state median of 1.11%.
Median Norwood Young America, MN home value: $276,700
Median annual Norwood Young America, MN tax bill: $3,266, $866 higher than the national median property tax bill of $2,400.

How are property taxes in Carver County calculated?

Property taxes in Norwood Young America, MN are calculated based on the tax assessed value, which is often lower than the actual market value due to property tax exemptions such as the homestead or senior exemption.

Understanding Norwood Young America’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Norwood Young America, knowing local tax details benefits homeowners and investors.

Last Updated March 1, 2025

Norwood Young America, Carver County, Minnesota Property Tax Bill Calculator

Property Assessed Value

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

1.28%

Estimate Property Tax Bill

$3,685

$3,420

Ownwell’s Norwood Young America Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Norwood Young America with just two data points. By entering your property's estimated assessed value, our calculator applies Norwood Young America’s median effective tax rate to accurately estimate your property tax bill. Note that your property's assessed value — determined by your county — reflects any exemptions you may have, ensuring a precise calculation for your property tax obligations. This insightful tool helps you understand potential tax liabilities and highlights how Ownwell can assist in reducing property taxes in Carver County. For those interested in more localized information, please scroll down to explore city-level trends!

Property Tax Rates Across Norwood Young America, Carver County, Minnesota

Local government entities set tax rates, which can vary widely within a state. Each year, counties estimate their required budgets to provide essential services and divide this by the total value of all taxable property within their jurisdiction. This calculation results in the property tax rate. While votes and laws are involved in setting these rates and budgets, this is the annual process in a nutshell. In Norwood Young America, located in Carver County, the effective property tax rate is 1.26%, which is higher than the national median of 1.02%. Compared to other cities in Minnesota, Norwood Young America's rate aligns with the state median but is notably higher than the national average. Understanding these differences can help property owners make informed decisions about appealing their property taxes or seeking exemptions. By staying informed about local property tax trends, property owners can better manage their expenses and potentially save money.

Property Tax Rates Across Norwood Young America, Carver County, Minnesota

Source: Ownwell

0.75%

1.05%

1.35%

Our median effective property tax rate (tax bill ÷ assessor's market value) accounts for exemptions and deductions, making it more accurate than the general median tax rate, which is the midpoint of statutory rates before adjustments.

Median Effective Norwood Young America Tax Rate

1.28%

Median Effective Carver County Tax Rate

1.09%

Median Effective Minnesota Tax Rate

1.13%

Median Effective United States Tax Rate

1.02%

Property Tax Rates Across Norwood Young America, Carver County, Minnesota

Zip	10th Percentile	25th Percentile	Median Tax Rate	75th Percentile	90th Percentile
55368	0.47%	0.85%	1.28%	1.38%	1.49%
55397	N/A	N/A	N/A	N/A	N/A

Source: Ownwell

Property Tax Assessment Values Across Norwood Young America, Carver County, Minnesota

When examining property taxes in Norwood Young America, MN, understanding the distinction between "market value" and "assessed value" is crucial. The market value is what a willing buyer would pay to a willing seller in an open and competitive market, often influenced by location, property condition, and economic market trends. The Carver County appraisal district estimates the market value for tax purposes. The assessed value is the market value minus any applicable exemptions or limits determined by local laws and offerings. The tax assessed value is the figure used to calculate your property taxes or the amount multiplied by your tax rate to get your tax bill.

In Carver County, assessment notices are sent in the spring each year. They’ll typically reach your mailbox by the middle of April. Each property owner receives an assessment notice that contains both the market value and assessed value, along with an estimate of your property tax bill. By providing insights into how assessed and market values are determined, this section helps property owners navigate their tax responsibilities and understand the valuation processes affecting their property taxes in Norwood Young America.

For example, the median home price in Norwood Young America is $276,700, with tax bills ranging significantly across the county. 55368 has the highest median home price at $276,900.

Property Tax Assessment Values Across Norwood Young America, Carver County, Minnesota

Source: Ownwell

$270,900

$466,450

$662,000

Median Norwood Young America Market Value

$287,900

Median Carver County Market Value

$422,800

Median Minnesota Market Value

$304,400

Median United States Market Value

$235,294

Property Tax Assessment Values Across Norwood Young America, Carver County, Minnesota

Zip	10th Percentile	25th Percentile	Median Home Price	75th Percentile	90th Percentile
55368	$179,730	$229,850	$287,900	$410,575	$779,890
55397	N/A	N/A	N/A	N/A	N/A

Source: Ownwell

Property Tax Bills Across Norwood Young America, Carver County, Minnesota

Property tax bills in Norwood Young America, located in Carver County, MN, are determined by assessing the market value of a property and applying the local tax rate. With a median home price of $276,700, homeowners in this area face a range of tax bills, with the 25th percentile at $2,550, the 75th percentile at $4,032, and the 90th percentile reaching $5,075. The median tax bill in this region stands at $3,266, which is notably above the national median of $2,400. This higher tax burden can significantly impact homeowners, influencing their overall housing costs and financial planning. Ownwell offers valuable assistance by identifying potential savings through property tax appeals and exemptions. By leveraging their expertise, homeowners can ensure their property is accurately assessed, potentially reducing their tax burden and aligning it more closely with national averages. With Ownwell's support, homeowners can navigate the complexities of property tax assessments and secure meaningful savings.

Property Tax Bills Across Norwood Young America, Carver County, Minnesota

Source: Ownwell

$3,383

$5,194

$7,005

Median Norwood Young America Tax Bill

$3,490

Median Carver County Tax Bill

$4,376

Median Minnesota Tax Bill

$3,364

Median United States Tax Bill

$2,400

Property Tax Bills Across Norwood Young America, Carver County, Minnesota

Zip	10th Percentile	25th Percentile	Median Tax Bill	75th Percentile	90th Percentile
55368	$2,020	$2,800	$3,490	$4,278	$5,528
55397	N/A	N/A	N/A	N/A	N/A

Source: Ownwell